Gold futures rise on firm demand

Gold prices on Friday rose Rs1,156 to Rs72,800 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher Rs1,156 or 1.61 per cent at Rs72,800 per 10 grams in a business turnover of 23,548 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 1.76 per cent to $2,414.40 per ounce in New York.